India, Jan. 8 -- As India aims to become the third-largest economy in the future, India Inc has reached a point where it needs to actively participate in the value versus volume debate. For decades since the economic reforms, we have focused on volumes. For example, the potential of the Indian middle class is offered as bait for foreign investors, and Indian businesses. The domestic volumes are enough to woo large scale private investments. Similarly, we have vied to create export hubs for cumulative exports. We may not have succeeded but the focus was to sell in volumes at cheap prices. This was even true of services exports, especially IT, where the strategy was to use cheaper manpower to become the world's back-office. Either send the ...